48. Raisor Corporation pays an annual premium of $12,000 on the whole life insurance policy on the life of Wilson, the founder and CEO of the corporation. The corporation is the beneficiary of the multi-million dollar policy. The corporation can deduct the premiums. If Wilson dies, the corporation will receive the policy proceeds tax-fre If Wilson's wife is the beneficiary instead of the corporation, the amou benefit for Wilson. IV If Wilson's wife is the beneficiary instead of the corporation, the corpo as compensation. Statements I, II, and III are correct. Statements I and II are correct. Only statement II is correct. Statements II and IV are correct. Statements I, II, and IV are correct